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PKR ends 44 paisa higher at 152.6 per USD

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May 06, 2021 (MLN): Pakistani rupee (PKR) continued to post gains as it further appreciated by 44 paisa against US Dollar (USD) on Thursday in interbank session to close at PKR 152.6 per USD, against yesterday's closing of PKR 153.04 per USD.

The rupee closed higher for the seventh straight session on Thursday helped by soft dollar demand.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 34 paisa per USD showing an intraday high bid of 152.85 and an intraday Low offer of 152.55.

Within the Open Market, PKR was traded at 152.80/153.70 per USD.

So far, the local unit has logged by PKR 15.45 or 10.13% gain against the greenback in FY21 while appreciation has been PKR 7.24 or 4.74% in CY21. MTD (month to date) position showed an increase of 0.56%, as per data compiled by Mettis Global.

Meanwhile, the currency gained 26 paisa against the Pound Sterling as the day's closing quote stood at PKR 212.31 per GBP, while the previous session closed at PKR 212.56 per GBP.

On the other hand, PKR's value weakened by 3 paisa against EUR which closed at PKR 183.47 at the interbank today.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.564.55 billion for 1 day at 7.05 percent.

The overnight repo rate towards the close of the session was 7.15/7.50 percent, whereas the 1-week rate was 7.05/7.15 percent.

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Posted on: 2021-05-06T15:07:00+05:00

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